Rational consumer behavior

                                 MAEI “Gymnasium №1”

                                 Research Project

               Rational consumer behavior

                                                              Presenter: Artem Baniukhov

                                                                             Student of 11-G class

                                                                      Supervisor: Lazutina E.A.

                                                                                      English teacher

                                    Novosibirsk, 2023

Plan of the project

1. Goals and objectives of the project
2. To whom the project is directed
3. Language level
4. Concept of rational consumer behavior
5. Consumers
6. Sources of formation of the family budget
7. What influences the consumer choice
8. Consumer income
9. What to do with money
10. Opinions about RCB and student survey
11. My opinion on the topic
12. Sources

1.Goals and objectives of the project

• Explain the meaning of rational consumer behavior
• Tell about the structure, goals, relevance of rational consumer behavior in modern society
• Tell about how to observe rational consumer behavior in the modern world
• Find out the opinion of others about rational consumer behavior, as well as express my opinion about it.

2.My project is to

• Everyone who is interested in optimizing your own income to achieve maximum benefits
• People studying English
• Teachers of English

3. Language level

• Upper-Intermediate and above

4. Concept of rational consumer behavior

• Rational economic behavior is an action that involves comparing the results of actions with costs
• The concept of rational consumer behavior is at the heart of economics, and also determines the work of most companies
• Wanting to purchase the necessary goods, a person looks for combinations from the proposed positions that are optimal in price and quality. This is the rational behavior of the consumer. It allows him to meet his needs within certain amounts
• The algorithm of behavior in rational consumption looks like this:

• A person makes a list of necessary purchases in accordance with the allocated budget.
• Considers various options for kits, taking into account their importance and necessity, as well as the final price.
• Selects more affordable products that are similar to the original set of qualities, but different in value.

5.Consumer

• A consumer is the one who purchases the product for his/her own need and uses or consumes it. A consumer cannot resell the good, product or service but can consume it to earn his/her livelihood and self-employment.
• Consumers include:

• State
• companies
• households

6. Sources of formation of the family budget

• salary
• interest on a bank deposit
• dividends from shares
• allowances, pensions, scholarships

7. What influences the consumer choice

• consumption period
• personal preferences
• fashion
• limited resources
• usefulness

8. Consumer income

• nominal (how much money gets) and real (how many products can buy)

9. What one can do with money?

There are only two ways of using money: saving money and saving it. Here are several options of using in each way.

• How to save money:

• Purchase of securities
• Buying real estate
• Bank deposits

• How to spend money:

• Arbitrary expenses (books, cars, fashion clothes)
• Mandatory expenses (food, transport, casual clothes)

10. Opinions about RCB and student survey

I conducted a survey among students in our class about their attitudes towards their consumer behavior and discounts. The questions that I asked are presented in presentation. Presented pie charts show that most of the respondents use discounts and control their expenses. It means that they are trying to be rational consumers. But in the same moment respondents are not ready to wait for discount to buy the good they need.